Is $34k the bottom??

[uneng]

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

[qwertyup23]

We have not hit daily rsi levels this low in a very long time, only a few times in bitcoins history do they go below 20 rsi.
Even then there still is no point in calling the bottom, but we should be close.

If we can build a recovery from this point then things could start to look a bit better.

I think $30,000 is the benchmark on how BTC price can really go low. It's price may soon recover around the $40,000-$50,000 in the coming weeks/months. Though I do not fully understand on how candle charts go (RSIs, etc.), one thing that lets me see the light at the end of the tunnel is the opportunity to acquire more and HODL it for long-term. Basically, this price is a dream for long-term HODLer investors as this is the ATL price of BTC since January of 2021 (~$36,000).

If we were to follow that trend, I do speculate that its price may recover around $50,000 soon. No need to panic as these things happen due to its insane volatility and inflation.

[Tellek Garing]

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

[Oasisman]

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

I doubt, what we are seeing is a temporary recovery as a result of people who avail and buy at what is believed as the bottom of this dip at $34,000.
Short traders will surely benefit for the short pump.
However, I'm not so confident for Btc to bounce back up to $40,000. I personally seeing Bitcoin fall below $30,000 which is another good opportunity for the small investors to buy more fractions of Btc just like you.

[sheenshane]

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

I doubt, what we are seeing is a temporary recovery as a result of people who avail and buy at what is believed as the bottom of this dip at $34,000.
Short traders will surely benefit for the short pump.
However, I'm not so confident for Btc to bounce back up to $40,000. I personally seeing Bitcoin fall below $30,000 which is another good opportunity for the small investors to buy more fractions of Btc just like you.

I disagree with your personally opinion about Bitcoin will drop further $30k, I saw the slow recovery and I think it has a strong support to recover again.
Recentlty I heard several news of country accept Bitcoin and there's a country that are investing 1% on their overall fund.  So there's a possible that this recent drop was heavily manipulated with someone else it could be consider a whale too or the effect of FUD was keep spreading until now small scale investors are keep panic selling.

But now, the market it seems showing a recovery and possible the button price could be at $34k.

[aruldaroy]

5m bars on a chart is like throwing dice against a wall.   You can be right one minute and wrong the next, its a hard game to play because its so fast.   BTC does move on much slower movements and its always surprising when we know its so fast in appearance.   4hr bars is the lowest possible confident time frame I refer to, if we print a price on 4hr then its more likely to stick.
   Below 4hr bars is trading movements where we speculate and typically a trade would close out profits here not expect it to be a trend especially.



We are failing the 35k area it seems like and its failed that last attempt above 2 day moving average,  volume is favoring the downside for now.   Weds is FED news and we'll see if it can alter, maybe this point is a pivotal place to watch in that back and forth.   US open in a couple hours 33.8k now

What you say is true that the current volume is decreasing but today there is a price change from yesterday because today bitcoin was at $36k and yesterday $35k.
I think the current standard for bitcoin prices is somewhere between $35k and $36k.

[peter0425]

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

nice quotation , very admirable . but how could i even afford to buy when my blood is spreading the street and my power is losing closely 

Maybe i will buy more when my enemy's blood is pouring in the street 

This is also my though about the current recovery, I’m pretty sure bear market is not finish yet and the bottom is yet to seen. Most probably, $30k can be the bottom so if you bought at the price of $34k, taking profit now is fine since the price will still dump. Though its good to see the recovery today, but I don’t think its real.

well so far it is 33k in which recorded the lowest , but year who knows what will come in the next?

[bakasabo]

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

[btc_angela]

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

I don't think that the Chinese New Year or any holiday for that matter has an effect on the price.
We all have heard about this in 2018 and then 2019 when people around are shouting that the price will go up after Chinese New Year because they are going back to invest again. But it was not the case because obviously, it was already a bear cycle. And that is what we are experiencing right now.

[Taskford]

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

I don't think that the Chinese New Year or any holiday for that matter has an effect on the price.
We all have heard about this in 2018 and then 2019 when people around are shouting that the price will go up after Chinese New Year because they are going back to invest again. But it was not the case because obviously, it was already a bear cycle. And that is what we are experiencing right now.

If majority of people believe that there's something will happen at that day then provably we can see a short term effect knowing the hype could build up if many people talk about something good on bitcoin especially if the person who talk about it is an influencial person who want to manipulate the peoples outlook towards current condition. But this is only have less chance knowing that bear market scare is more doninant these days.

[michellee]

What you say is true that the current volume is decreasing but today there is a price change from yesterday because today bitcoin was at $36k and yesterday $35k.
I think the current standard for bitcoin prices is somewhere between $35k and $36k.

I am not sure about this as the price can be lower than what we saw before. Although the price now can increase and back to $36k and stay at that price for this day. But I am still optimistic that bitcoin will recover soon and no matter what the bottom price of bitcoin if you can use it for your own, you will benefit from that. If the price can sustain this price or be higher than today until the end of this month, the chance to lift to the other high price can happen next month.

[GeorgeJohn]

No one know about how deep we can possibly get since any possibilities are there, we might see bitcoin go lower down on that figure so we should rise up our awareness since market is not looking good at the moment. If people telling you that it will be the last dip for bitcoin to reached then stop listening at them and do your research to find out the real scenario on the market so that you will not get burn by fire.

That's nice point so far, the market determinant is base on You and I, deciding in the nature of market fluctuations or regulations before you can make a necessary or unnecessary steps of cryptocurrency market, currently you have to make your own consultation or carry on a special research analysis of cryptocurrency, and the results will determine your wishes of investment or retaining and holding of your coins for awhile. The clause you potray that stipulates of stop listening to people is right, indecencies that your own experimental research you conduct will give you an accurate answer if the analysis is cogent.

[Tellek Garing]

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

nice quotation , very admirable . but how could i even afford to buy when my blood is spreading the street and my power is losing closely 

Maybe i will buy more when my enemy's blood is pouring in the street 

This is also my though about the current recovery, I’m pretty sure bear market is not finish yet and the bottom is yet to seen. Most probably, $30k can be the bottom so if you bought at the price of $34k, taking profit now is fine since the price will still dump. Though its good to see the recovery today, but I don’t think its real.

well so far it is 33k in which recorded the lowest, but year who knows what will come in the next?

Cheat happens just buy what you can afford at a time, I guess it is more fun to buy when the blood of the enemy is spilled on the street but building a tick skin is what makes a great holder.
The market gave the holder some relief in the early hours of Tuesday 25th January 2022, but it looks more stable at present.

[kentrolla]

I don't think $34k is the bottom as I thought the same when bitcoin was fluctuating around $45k and again when it found some stability around $40k but it eventually dropped down. I don't think we can consider $34 or even $30k as the support unless bitcoin's value cross $40k and rally towards $50k because we are witnessing gradual decrease in the value of bitcoin which is definitely not a good sign and these one or two days of minor recovery don't undo the damage which has already caused.

[South Park]

The price was going nuts and now seems to have stopped falling for now and also slowly rising up for a little while as well. What are your thoughts, is it going to fall more or would it start to rise again and recover all the money that was lost.
And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.

It seems to be the bottom for now, I think that right now bitcoin is not moving according to its own dynamics and instead it is moving reflecting the reality of the world, which right now is facing great uncertainty as we do not know if there is going to be another cold war being fought by the US and Russia, so the markets are incredibly unstable and this is being reflected in the price of bitcoin as well, so if things escalate then I could see the price of bitcoin going even lower than what we are seeing right now.

[el kaka22]

We reached as low as nearly $33k levels. That is really a horrible fall and we are now a bit higher. However, that doesn't mean that it will keep going up, it just means that it is higher right now.

I feel like there is a good chance we could see it drop even more. Whenever there is a big fall like this, there are a lot of people who take advantage of it and buy from that cheap level and sometimes it rolls over and creates a good increase, but eventually they will stop. So, at that point if people think that it is looking good then it is looking good but if it is still going down and not normal then the price will keep going down for a long time as well, we could see even worse prices.

[Zilon]

You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further

[samcrypto]

You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further

Historically yes, that’s a strong support and analysis but the situation now is really different and becomes more unpredictable. Though the price becomes more stable on $36k as of posting, there’s still a chance that it can go lower and I see as well the price of $30k to become the next support level. We will see this after the Chinese New year, hoping for a good reversal.

[Dhaniii]

You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further

Historically yes, that’s a strong support and analysis but the situation now is really different and becomes more unpredictable. Though the price becomes more stable on $36k as of posting, there’s still a chance that it can go lower and I see as well the price of $30k to become the next support level. We will see this after the Chinese New year, hoping for a good reversal.

currently bitcoin has not seen strong support so it is possible to go down again in the next few days. This decline is not the end of bitcoin, because this decline is only a market price correction at the end of the stock economic cycle. So we just have to wait, when bitcoin gets support again and everyone is waiting for bitcoin to bounce back after falling a few weeks ago.

[bakasabo]

We will see this after the Chinese New year, hoping for a good reversal.

Again Chinese New Year... Why do you consider that this holiday can influence on Bitcoin? You think that people would start to convert Bitcoin info fiat to buy presents? Bitcoin is illegal in China. Operations with Bitcoin are illegal. There will be people who will make such exchanges anyway, but their number is so tiny that market wont even noticed crypto movements.

Previous years proved that holidays, summer time holidays for traders, pandemic restrictions does not influence on the price at all. These are just excuses for newcomers to explain why their invested value has decreased.